Short Summary

The World Bank has lent $55 million (GBP 20 million sterling) to the Nigerian Ports Authority to help finance an $83.8 million (GBP 30 million sterling) expansion project at the port of Apapa.

Description

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GV PAN Port of Lagos
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TGV Cargo handling area
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GV Sign "Apapa Quays"
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GV & SV Cargo being unloaded from ships at quayside (5 shots)
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GV General quayside activity of cargo being moved and handled (5 shots)
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GV Another ship docking
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Initials ES. 1749 ES. 1800

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Background: The World Bank has lent $55 million (GBP 20 million sterling) to the Nigerian Ports Authority to help finance an $83.8 million (GBP 30 million sterling) expansion project at the port of Apapa.

Apapa at Lagos is one of eight ports in Nigeria which together have a potential handling capacity of 5.2 million tons. They serve the 68 million people of Nigeria as well as handling some transit cargo for Niger and Chad.

The aim of the new project at Apapa is to provide more capacity at Lagos. It includes the construction of five berths, transit sheds and warehouses and ancillary buildings. Specialised container handling equipment will be provided.

The project will also include the dredging of a channel and a turning basin in the harbour. As well, there'll be expert services for management improvement.

The scheme will enable Lagos to meet the expected demand of 5.4 million tons per annum in 1980.

Seven financial institutions in Japan, Switzerland and the United States are participating in the loan, which is being offered over 25 years.